Ward, Francis Dennis Ex Parte The Official Trustee in Bankruptcy; Dabnas Pty ltd [1984] FCA 240

CATCHWORDS

BANKRUPTCY - alleged settlement of property - moneys held in loan account of company - company acting as trustee under a family trust - whether direction by creditor to transfer part of the moneys in his loan account to the benefit of the trust

constitutes a "settlement". Nature of transaction - assignment of part of a debt - whether unequivocal statement in writing manifesting intention to assign

is sufficient - promissory estoppel.

BANKRUPTCY ACT 1966 s.120

RE FRANCIS DENNIS WARD; OFFICIAL TRUSTEE IN BANKRUPTCY V DABNAS PTY LIMITED - W.390 OF 1983

WILCOX J 17 AUGUST 1984

SYDNEY

IN THE FEDERAL COURT OF AUSTRALIA BANKRUPTCY DISTRICT OF THE STATE OF NEW SOUTH WALES AND THE

No. W.390 of 1983

wweveervvn

AUSTRALIAN CAPITAL TERRITORY

RE: FRANCIS DENNIS WARD A Bankrupt EX PARTE: THE OFFICIAL TRUSTEE IN BANKRUPTCY Applicant

DABNAS PTY LIMITED

Respondent ORDERS CORAM: WILCOX J DATE: 17 AUGUST 1984 PLACE: SYDNEY 1. DECLARE that the transaction effected by the respondent

on or about 30 June 1981 in compliance with a request by Francis Dennis Ward by letter dated 29 June 1981 and involving the gift by Francis Dennis Ward to the respondent, as trustee of the Beauty Point Trust, of the sum of $180,000, such aift to be satisifed by debiting the loan account of Francis Dennis Ward in the books of account of the respondent is void as against the

applicant.

2. ORDER that the respondent do pay to the applicant the sum of $180,000. 3. ORDER that the respondent do pay to the applicant his

costs of the application. 4. DIRECT that if no Notice of Appeal be filed in the

meantime the exhibits be returned at the expiration of 21 days

from this day.

IN THE FEDERAL COURT OF AUSTRALIA

BANKRUPTCY DISTRICT OF THE STATE No. W.390 of 1983

OF NEW SOUTH WALES AND THE

AUSTRALIAN CAPITAL TERRITORY

RE: FRANCIS DENNIS WARD A Bankrupt EX PARTE: THE OFFICAL TRUSTEE IN BANKRUPTCY Applicant